Dec 12, 2012 4:00am EST
. these are your headlines from around the world -- >> opec ministers expect to agree on keeping their output target. talks about the level of u.s. production, rivalries between iran and saudi arabia, and a new secretary general could get heated. >>> italy likely to see a strong uptai uptake thanks to supply reductions before year end. >>> and let's twist again. the fed set to announce a fresh around of bond purchases to match the outgoing twist program at the end of the year. >>> the international community blasts north korea after it successfully launches a long-range rocket, prompting an emergency u.n. security council meeting. >>> all right. a very good morning to you. we are going to be on to opec later. we've got the latest i.a. data out this morning. they're saying global oil demand projected around 90.5 million barrels a day. more than forecast. they say non-opec production bouncing back. an something bit. they're saying opec crude supply inched up in november led by higher output from saudi arabia. >> i think we'll have to call this today the case of the two oil reports. we have the
Dec 12, 2012 6:00am EST
with all the tension going on at the opec meeting in vienna now. you know, wti higher by 41 cents. 86.20 per barrel. london, 108.53. a gain of.5%. the treasuries and ten-year yield now is -- very close to 1.7%. decline of 1/8 point. the dollar is mixed across the board. 82.84 for every dollar. the pound would cost you $1.61. the price of gold this hour is higher by $5.20. a gain of .3%, 1,714 per ounce. time for the global markets report. kelly evans is standing by in london. >> michelle, hello. >> you might be here 12-12-2110. >> i think the date is 1221? today is 12-12. 12-21 it when the world ends. i think we've only got nine days left of the global market report. >> i'm worried about the fiscal cliff -- once we get the world -- which is worse? the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%.
Dec 12, 2012 11:00pm EST
.s. to be north american oil independent. and fundamentally what that means is we won't be relying on opec oil imports by 2020. we're going to rely on canadian imports plus burgeoning u.s. production. that is a major major change in the united states energy picture. >> now mark, one of the things that i've learned from you is that the numbers that we often see are radically understated. the government will put out numbers. it seems like every time they put out numbers they're well behind. what is the disconnect between the numbers that we see officially and what's really going on in the oil patch? and why don't people realize how quickly this change is occurring? >> yes. the dynamic of the change is one that's easy to underestimate. in fact, eog has really underestimated the dynamic of the change. we've raised our production growth forecast for oil three times this year. and that's not because we've been coy with wall street. it's really because we've underappreciated the power of some of these plays. you mentioned earlier for example this eagle ford play, we think that just eog's net of oil d
Dec 8, 2012 5:00am PST
supply among a number of non-opec countries. you see the u.s. obliterating the rest of the world. employment des moinin oil and gd to the highest level in 1992. we still provide a tiny sliver just under 200,000. the net oil imports are craters and a now a number of analysts predict in the near future the u.s. is producing more oil than any other country in the world. by round 2020 a recent international agency reports that the u.s. is predicted to become the largest oil producer and starts to see the impact of new fuel efficiency measures and transport. it results in a continued fall in u.s. imports to the extend that north america is a net oil exporter around 2030. yes, that's right. the united states, which is according to the spokes people from the coal industry already the saudi arabia of coal, which is now essentially tied with russia as the single largest producer of natural gas in the world could find itself the world's biggest oil producer on a consistent basis for the first time since the first half of the 20th century. in energy circles you hear the phrase saudi america